SIR Capital Management L.P. Has $24.23 Million Holdings in Kinetik Holdings Inc. $KNTK

SIR Capital Management L.P. lifted its stake in shares of Kinetik Holdings Inc. (NYSE:KNTK) by 195.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 672,090 shares of the company’s stock after buying an additional 444,368 shares during the period. Kinetik comprises approximately 2.7% of SIR Capital Management L.P.’s investment portfolio, making the stock its 12th biggest position. SIR Capital Management L.P. owned approximately 0.42% of Kinetik worth $24,229,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. CWM LLC grew its stake in shares of Kinetik by 89.8% in the fourth quarter. CWM LLC now owns 744 shares of the company’s stock worth $27,000 after purchasing an additional 352 shares during the last quarter. Signaturefd LLC grew its stake in shares of Kinetik by 101.5% in the fourth quarter. Signaturefd LLC now owns 802 shares of the company’s stock worth $29,000 after purchasing an additional 404 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Kinetik in the fourth quarter worth $40,000. Huntington National Bank grew its stake in shares of Kinetik by 139.1% in the fourth quarter. Huntington National Bank now owns 1,222 shares of the company’s stock worth $44,000 after purchasing an additional 711 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Kinetik in the third quarter worth $54,000. 21.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KNTK has been the topic of several analyst reports. Scotiabank reissued an “outperform” rating and issued a $52.00 price objective (up from $51.00) on shares of Kinetik in a research note on Tuesday, May 12th. Zacks Research raised shares of Kinetik from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 26th. Mizuho boosted their price objective on shares of Kinetik from $48.00 to $51.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Weiss Ratings raised shares of Kinetik from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 3rd. Finally, Barclays set a $50.00 price objective on shares of Kinetik and gave the stock an “equal weight” rating in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.17.

Kinetik Stock Up 0.4%

KNTK stock opened at $47.41 on Friday. The firm has a market cap of $7.70 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 2.44 and a beta of 0.57. Kinetik Holdings Inc. has a 12-month low of $31.33 and a 12-month high of $51.51. The company’s fifty day simple moving average is $47.82 and its 200 day simple moving average is $42.93.

Kinetik (NYSE:KNTK) last released its earnings results on Wednesday, May 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.23). The firm had revenue of $409.98 million during the quarter. Kinetik had a net margin of 28.58% and a negative return on equity of 36.36%. The firm’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 EPS. Research analysts expect that Kinetik Holdings Inc. will post 0.62 earnings per share for the current year.

Insider Transactions at Kinetik

In related news, major shareholder Isq Global Fund Ii Gp Llc sold 534,564 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $50.52, for a total value of $27,006,173.28. Following the transaction, the insider owned 428,894 shares in the company, valued at $21,667,724.88. The trade was a 55.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 1,071,107 shares of company stock valued at $53,172,463 in the last quarter. 3.56% of the stock is owned by insiders.

About Kinetik

Kinetik (NYSE: KNTK) is a publicly listed midstream energy company focused on the development, operation and management of natural gas infrastructure across the United States. The company’s core business activities include the gathering, compression, processing, storage and transportation of natural gas, serving producers, utilities and industrial consumers. By integrating a suite of midstream services under a single platform, Kinetik aims to provide efficient, cost-effective and reliable solutions across the natural gas value chain.

The company was established in 2021 when assets were acquired from Talen Energy by a subsidiary of ArcLight Capital Partners, forming a comprehensive portfolio of pipelines, compression facilities and underground storage assets.